Do you have an investment strategy? Making money without an investment strategy is like an offense in the NFL going to the line of scrimmage without a snap count.
There is nothing people talk about more and do less than budgeting.
As an athlete, I have focused on building almost every muscle in my body — but I had to teach myself to build my money-saving muscle.
When I was in the NFL, people asked me for money almost every day. Old friends, strangers, even family would pop out of the woodwork with their hands out. At first I wanted to help everyone, but after a while I smartened up and learned to call bullshit on people with a few key questions.
After 15 minutes of speaking to a group of youth for My Brother’s Keeper, talking about how to buy stocks and the wisdom of owning companies they use and like, one of the young men raised his hand. “So, can I buy stock?” he asks.
I can count on two hands the number of NFL players I know who still have their money. According to Sports Illustrated,1 two years after retiring, three-quarters of NFL players are broke (or nearly), and five years after retiring, more than half of former NBA players are in the same rudderless boat.